We need to be seen by one and all as fighting money laundering, Commerce Chamber says

The Malta Chamber of Commerce said that the doubts cast on financial services sector must be cleared decisively

The Chamber said that it is currently in the process of compiling a new economic vision for Malta
The Chamber said that it is currently in the process of compiling a new economic vision for Malta

The Malta Chamber of Commerce said that on the domestic level, Malta needs to be seen by one and all as forcefully attending to the present challenges currently facing Malta's "upstanding and reputable operators of the [commercial] sector."

The Chamber, commenting on the leak of the as yet confidential Moneyval report, which ostensibly charged Malta with failing to combat the risks of money laundering, said that such a report may have a heavy bearing on the foreign direct investment flows.

READ ALSO: Malta will have implemented all Moneyval recommendations by deadline, Muscat says

"It is undoubtedly to the benefit of our economy's future prospects and ambitions for the issues that emerge from this report to be tackled in a decisive and timely manner," the Chamber said in a statement.

It added that the Chamber is currently in the process of compiling a new economic vision for Malta for the years after 2020 and that the research and feedback indicates that the country's financial services are to remain "a principal pillar of the Maltese economy."

The Chamber commended the government's commitment to address the Moneyval recommendations within the time-window the international organisation established.

"The Chamber is steadfast in its belief that our country will emerge stronger from this challenge which will be overcome like all other previous challenges we have faced," the statement said.

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